In a tumultuous year, one of the key clear messages to emerge from 2020 was that environmental, social and governance (ESG) concerns are here to stay. As mentioned in our 31 July 2020 article “ESG in 2020: A Half-Year...more
2/9/2021
/ Biden Administration ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Debt Market ,
Environmental Social & Governance (ESG) ,
Flexible Work Arrangements ,
Green Bonds ,
Popular ,
Publicly-Traded Companies ,
Remuneration ,
Supply Chain ,
Sustainability
In recent years, investment managers sponsored by established corporate enterprises (Corporate Sponsors) and corporate sponsored funds (CSFs) have been established with increasing frequency across a range of sectors, markets...more
Governance Factor; Beyond the Board -
Corporate governance has long been a focal point for large corporates, listed companies and regulated entities, with numerous studies connecting good corporate governance with higher...more
Fund sponsors, investment advisors and other financial market participants would be forgiven for not concerning themselves with tax initiatives originally targeted at the digital economy. However, with the latest technical...more
In a letter dated August 18, 2020, the European Securities and Markets Authority (ESMA) wrote to the European Commission (EC) on certain topics it considers a priority to address in the context of the EC’s review of the...more
The list of events for which 2020 will be remembered continues to grow and we are only two thirds of the way through the year. Environmental, social and governance (ESG) issues have come into focus in the financial community,...more
9/15/2020
/ AIFM ,
Climate Change ,
Compliance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Fund Managers ,
Fund Sponsors ,
Institutional Investors ,
Pollution Control ,
Popular ,
Private Funds ,
Sustainable Finance ,
Taxonomy ,
UK ,
United Nations
In the middle of February 2019, Brexit continues to be debated between Westminster and Brussels, despite the rapidly approaching deadline for the United Kingdom (U.K.) to leave the European Union (EU) on March 29, 2019. With...more
2/14/2019
/ AIFM ,
AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
CSSF ,
European Economic Area (EEA) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Fund Managers ,
Luxembourg ,
Memorandum of Understanding ,
No-Deal Brexit ,
Passporting ,
Private Funds ,
Transitional Arrangements ,
UK ,
UK Brexit
On June 26, 2017, The Information about People with Significant Control (Amendment) Regulations 2017 (PSC Amendment Regulations) and The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)...more
One likely impact of the decision of the United Kingdom (UK) to leave the European Union (EU) is that the UK’s financial services industry will lose automatic rights of access to the EU’s free trade area (the Single Market)...more
6/8/2017
/ Affiliates ,
Alternative Investment Fund Managers Directive (AIFMD) ,
EU ,
EU Passport ,
EU Single Market ,
European Securities and Markets Authority (ESMA) ,
Financial Services Industry ,
Investment Funds ,
MiFID ,
MiFID II ,
UCITS ,
UK ,
UK Brexit
On March 29, 2017, the U.K. updated the law pursuant to which U.K. limited partnerships are constituted. It was the same day on which the government began the Brexit process that will fundamentally change the constitution of...more
In our August 2015 client alert, we reported on the European Union's tentative efforts to extend the Alternative Investment Fund Managers Directive (AIFMD) marketing passport to managers and funds established in non-EU...more
On January 29, 2016, the Institutional Limited Partners Association (ILPA) unveiled its fee reporting template (the Template) together with accompanying guidance (the Guidance). The Template has been produced based on...more
On November 12, 2015, the European Banking Authority (EBA) published a follow-up report on the treatment of role-based allowances (Allowances) paid by banks to their staff. The EBA’s original, October 2014 report and opinion...more
On July 30, 2015, the pan-EU securities regulator, European Securities and Markets Authority (ESMA), published two papers covering the application of the marketing “passport” under the Alternative Investment Fund Managers...more
New rules effective from today in the U.K. are likely to have material impact on the tax treatment of payments by a fund to its U.K.-based management executives and service providers. The rules cover many areas of fund...more
4/8/2015
/ Carried Interest ,
Clawbacks ,
Distribution Rules ,
Fees ,
Financial Transaction Tax ,
Fund Managers ,
Hedge Funds ,
HMRC ,
Income Taxes ,
Investment Management ,
Limited Partnerships ,
Non-Resident Aliens ,
UK
Since 1 January 2014, the EU’s Capital Requirements Directive (CRD)1 has required EU-regulated banks (EU Banks) to limit variable compensation paid to key bank staff to 100 percent of their fixed compensation (or 200 percent...more
Michel Barnier, vice president of the European Commission, recently wrote to the chairman of the European Banking Authority (the EBA), asking the EBA to report by the end of this month on whether allowances paid by EU banks...more
European lawmakers have reached agreement on amendments to the Undertakings for the Collective Investment in Transferable Securities (UCITS) Directive, which regulates the management and marketing of EU mutual funds. These...more
The U.K. Treasury recently published its response to its January 2013 consultation on transposing the EU Alternative Investment Fund Managers Directive (AIFMD). A revised draft version of the Alternative Investment Fund...more